Piggies raid bank

John Key’s failure to give an assurance about the Superannuation Fund means he cannot honour his pre-election promise not to change superannuation, Wigram’s Progressive MP Jim Anderton says.

“Raiding the piggy bank today means there is less in the piggy bank when it is needed.

“If the Super Fund is reduced in any way, then our future ability to pay for superannuation at existing levels is reduced. If it is cut then significantly higher taxes in future than we would otherwise have are inevitable, or alternatively reduced levels of superannuation in the future will be the certain result.

“There is no easy option. National makes pledges about super today, but that is meaningless because they are setting up super to be cut in the future. Future superannuation will not be paid for out of thin air. Whatever is taken out of the Fund today by way of ‘freezes’ or ‘reduced contributions’ is money not available to pay for ῳuper in the future.

“Cut the fund today, and the payout will be cut in future.

“National was repeatedly challenged to come clean on this before the election and it repeatedly gave an undertaking that superannuation would be unchanged.

\"I specifically warned that National would use ‘changed circumstances’ as an excuse - but circumstances always change. Once again, just like it did last time in government, National is breaking its promise and finding a creative new way to break its promise not to cut super.”

ENDS

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